St. Louis Business Journal articles from August 1997

St. Louis Business Journal archives from August 1997

SSM Health Care to cut 330 jobs.
August 4, 1997... SSM Health Care is eliminating 330 jobs at six of its seven hospitals in the St. Louis area. Five vice president positions, providing services that span the local network of hospitals, also are being cut, effective Aug. 29. The move will...

Banks, brokers build trust. (trust business)
August 4, 1997... NationsBank, exploding wealth create opportunity The trust business is booming for mid-size banks and brokerages in the St. Louis area. Allegiant Bank is launching a new trust department. First Bank is on a hiring binge and plans to triple...

Marecek makes bid for KFNS. (Spirit Sports owner Greg Macerek)
August 4, 1997... Unable to lure KFNS-AM personalities to his proposed all-sports station. Greg Marecek has instead offered to buy KFNS for $3.5 million, according to radio industry sources. Marecek, whose Spirit Sports produces and syndicates radio and...

TWA sweetens frequent flier pot. (Trans World Airlines Inc.)
August 4, 1997... Trans World Airlines Inc. is expanding its frequent flier program in an attempt to lure business travelers back to the airline. Business travelers are critical to the cash-strapped TWA because they often book flights late and pay higher fares....

New York Bagel opts out of former Tuscany sites. (New York Bagel Enterprises Inc.)
August 4, 1997... New York came, saw and apparently decided not to conquer the St. Louis bagel market. New York Bagel Enterprises Inc., which purchased the lease improvements for three Tuscany Bagel & Cafe stores in June with the intention of eventually opening...

Sachs buys pieces of property in Chesterfield for $2.8 million. (Sachs Properties)
August 4, 1997... Sachs Properties has purchased seven acres of property adjacent to its current development in Chesterfield for $2.8 million. The company doesn't have a firm plan for the property in the 16500 block of Chesterfield Airport Road, but Sachs...

Bills take aim at money laundering, asset seizure.
August 4, 1997... WASHINGTON - After putting it on the back burner for more than three years, Congress once again is ready to handle the issue of money laundering. Two bipartisan bills, one targeting money laundering and the other asset forfeiture, have made...

Anheuser-Busch considers minority stake in Widmer. (Anheuser-Busch Companies Inc.; Widmer Brewing Co.)
August 4, 1997... The Widmer Brewing Co. in Portland, Ore., is the latest microbrewery target of Anheuser-Busch Cos. Inc. "The deal is not complete yet, but we expect it to wrap up soon," said Kurt Widmer, who founded the brewery with his brother Robert in...

Vacant Olivette building getting $4.5 million rehab. (Olivette, MO)
August 4, 1997... A 45-year-old industrial building in Olivette that has been vacant for three years is getting a $4.5 million face lift. The building, at 9315 Olive Blvd. in the Dielman Industrial Park, is being redeveloped by Andrew Bell, president of...

Healthy business: Jones makes fourth acquisition, projects $5 million in sales. (Jones Medical Industries Inc.)(Small Business)(Company Profile)
August 4, 1997... Business activity: Dennis Matthew Jones Jr., owner of Jones Products International Inc., has learned his lessons well. The son of Dennis Jones Sr., founder and chairman of Jones Medical Industries, Matt Jones is following in his father's...

St. Louis job growth steady, if not spectacular, at 3.64%.
August 4, 1997... Slow and steady continues to be the rule for job growth in St. Louis, as the area's employment increases continue to lag behind much of the Sun Belt. Using figures from the U.S. Bureau of Labor Statistics, a recent Business Journal report...

Procurement policy office fights Bond's bundling bill. (Office of Federal Procurement Policy; Sen. Christopher Bond)
August 4, 1997... WASHINGTON - Federal agencies promise they will buy more from small businesses in coming years. At least, that's what they said in an internal survey to the Office of Federal Procurement Policy last week. According to the survey, almost 70...

Bank takeover fever strikes again; Mercantile, Magna, Commerce prime targets. (Mercantile Bancorporation Inc, Magna Group Inc and Commerce Bancshares Inc)(Industry Overview)
August 11, 1997... The bulls are stampeding once again through St. Louis banks, driven in part by takeover fever. Stocks for many area banks have shot up in price in the past two months, but increases at three institutions Mercantile Bancorporation Inc., Magna...

Wright snaps up Bell's biggest cellular outlet. (Leroy Wright and cellular retailing)
August 11, 1997... Two years ago, Leroy Wright was a Southwestern Bell Telephone Mobile Systems employee, selling cellular telephones. Wright. 28. is still selling cellular telephones, but now controls one of the biggest cellular retailers in St. Louis. On...

Fitzgerald buy makes Kupper No. 2 ad firm. (Kupper Parker Communications acquires Fitzgerald Advertising Inc)
August 11, 1997... Kupper Parker Communications is buying Fitzgerald Advertising of New Orleans - a move that will make it the second largest advertising agency here after D'Arcy Masius Benton & Bowles. The purchase, which is official Sept. 1, is the biggest...

Gerber blossoms; sales hit $13 million. (profile of Gerber Landscape Solutions)(Company Profile)
August 11, 1997... When Donald B. "Skipp" Gerber II was cutting grass to help put himself through graduate school, the story goes that he literally raced through his jobs, jogging behind his lawnmower. Gerber, now 38 years old and sole owner of the $13 million...

Laurie's Shoes tries school uniform supplier on for size. (Laurie's Shoes acquires Just Me Apparel)
August 11, 1997... Locally owned Laurie's Shoes - known for its children's shoes - is raising its sights a bit from its customers' toes. The 46-year-old family footwear chain has acquired Just Me Apparel, a leading supplier of school uniforms, for grade school...

TWA's latest push: getting bags to gates on time, too. (Trans World Airlines Inc's improves baggage handling service)
August 11, 1997... Now that Trans World Airlines Inc. is checking into its gates on time, the airline is checking out its baggage problems. The airline has set up a task force on improving baggage handling and is investing large amounts in new baggage gear....

The Source checks out million-dollar deal with Kmart. (The Source Co. does business for Kmart Corp)
August 11, 1997... The Source Co. has snagged a Blue Light special. Kmart Corp. has hired the Maryland Heights-based company to oversee the display and sale of magazines, candy, beverages and other "impulse-buy" items stocked by the checkout counters at more...

With Brodeur at helm, Jefferson Memorial seeks partner; BJC building clinic across from hospital. (Mark Brodeur takes over as CEO of Jefferson Memorial Hospital while BJC Health Systems plans to build outpatient clinic)
August 11, 1997... Jefferson Memorial Hospital is expected to renew talks with St. Louis' four hospital systems about joining forces, now that a new chief executive officer is on the job. The hospital, one of only a handful of independents in the area, hopes to...

Home health: Advanced Nursing hits $2.5 million under Holtman's care. (Advanced Nursing Services thrives under Maggie Holtman's administration)
August 11, 1997... Business activity: Maggie Holtman expects her employees to treat their clients like they would their own families. As owner and president of Advanced Nursing Services of St. Louis, which provides private-duty nurses, Holtman understands the...

Small business claims victories with new budget plan.
August 11, 1997... The small-business community came through the arduous fight to pass the budget and tax bills with several major victories, and vowing to fight for more next year. Here's what's in the recently passed bills for small businesses: * Home...

Brokering change: African-Americans in finance look to encourage others to enter field.
August 11, 1997... Harry Ratliff, a veteran broker at Merrill Lynch, held an unusual gathering of financial professionals at his Central West End home last October. The group may well have represented the largest collection of African-American financial clout...

Black attorneys make $13,000 less than white counterparts.
August 11, 1997... As a young attorney, Eric Banks recalled trying a case in a rural Missouri county where the judge initially warned him the area at the head of the courtroom was for attorneys only. Now Banks, 41, is St. Louis City Attorney. He said he took the...

Monsanto spinoff sets pay.
August 18, 1997... Directors to get $50,000 retainer Chemicals pay 1996 compensation of officers of Monsanto's chemical business spinoff. salary bonus Robert Potter $500,000 ...

Louis London for sale. (advertising and sales promotion company)
August 18, 1997... Advertising whiz Mark Shapiro is in discussions to sell his advertising and sales promotion company, Louis London. Shapiro told employees last week that he was talking to New York-based McCann-Erickson Worldwide. McCann-Erickson is part of the...

Bickel fails in bid to control St. Johns, but ups holdings. (St. Johns Bancshares Inc. minority owner F. Gilbert Bickel III)
August 18, 1997... F. Gilbert Bickel III, a minority owner of St. Johns Bancshares Inc., has fallen short in a second attempt to take control of the bank. But he was able to slightly increase his ownership interest in the bank, after offering to pay $300 per...

Gateway Western Railroad rolling with consolidation.(Transportation/Distribution)
August 18, 1997... A year ago the Gateway Western Railroad was a small operation in a rapidly consolidating rail industry. Today the Fairview Heights company with 402 miles of track is a linchpin in a Kansas City Southern Railway link that reaches from Chicago...

Save-A-Lot chooses Earth City for new headquarters.
August 18, 1997... St. Louis-based Save-A-Lot plans to move its corporate headquarters into a $12 million, 120,000-square-foot building proposed for Earth City. Initially, about 300 employees will work in the new building, but the company plans to expand its...

80% of west county residents want access to MetroLink. (St. Louis, Missouri)(Transportation/Distribution)
August 18, 1997... A recent survey says west St. Louis Countians want access to better mass transit. The Attitude Research Co. conducted a survey of more than 2,000 people in west county to get some guidelines for future planning in the area. According to the...

Want a warehouse in Earth City? Better move quickly.(Transportation/Distribution)
August 18, 1997... Within 18 months Earth City will be mostly built-out. Since 1972, 10.7 million square feet of industrial space have been built in Earth City, Corporate Woods and Riverport; more than 40 percent of that has been within the last four years....

W.K. Woods stationary downtown: office supply firm survives 100 years despite competition from giants.(Small Business)
August 18, 1997... Office supply firm survives 100 years despite competition from giants Business Activity: W.K. Woods Stationery Co., preparing to celebrate its 100th anniversary, has survived by showing a willingness to change with the times. Located in...

Zeigler Coal Holding Co. (Proxy Reports Excerpt)(Company Profile)
August 18, 1997... Chand B. Vyas President and chief executive officer Zeigler Coal Holding Co., through its subsidiaries, is one of the largest coal producers in the United States. Currently, the company is pursuing other noncoal business segments with the...

Zorumski crafts Platinum HMO. (Thomas Zorumski to launch health maintenance organization Platinum Health Care)
August 25, 1997... Venture capital firm holds 60% stake Thomas Zorumski is back. The former head of United Healthcare of the Midwest filed plans with the state for a new health maintenance organization on July 22. According to the filing with the Missouri...

Financial health: GHP, United get grades. (Group Health Plan Inc., United Health Care of the Midwest appraised by Weiss Ratings Inc.)
August 25, 1997... Weiss Ratings Inc., an independent rating agency, is flashing warning signs about the financial health of Group Health Plan Inc., the second-largest health maintenance organization in Missouri. GHP President Richard Jones said, however, since...

Fellhauer, Deelo each put $100,000 in Equality. (Equality Savings and Loan Association executives to spend for new stock)
August 25, 1997... The top two executives at Equality Savings and Loan and two board members each plan to spend $100,000 for new stock in the thrift, as the mutual holding company converts to a publicly traded stock firm. The new Equality Bancorp Inc. could raise...

McDermott wants to have pro soccer stadium built. (sports commentator Bill McDermott to campaign for stadium in St. Louis, Missouri)
August 25, 1997... Anyone who has heard Bill McDermott broadcast a soccer match knows he can talk a good game. But can he talk someone into spending between $10 million and $50 million to build a 20,000-seat soccer stadium? McDermott, who owns a graphic design...

Bunzl buying $300 million grocery supply business. (Bunzl PLC to acquire Unisource Worldwide Inc.)
August 25, 1997... Bunzl plc, the parent company of St. Louis-based Bunzl Distribution USA, will acquire the grocery supply business of Pennsylvania-based Unisource Worldwide Inc. for about $88 million. The acquisition, to be completed by Sept. 30, is expected to...

Neighbour to commercialize some W.U. research projects. (P. Andrew Neighbour named VP for technology management at Washington University)
August 25, 1997... Washington University plans a big push to make more money from its research. The school has hired P. Andrew Neighbour as vice president for technology management, effective Sept. 1. Neighbour has spent the past six years as director and chief...

TWA cargo revenue jumps $2 million during UPS strike. (Trans World Airlines)
August 25, 1997... Trans World Airlines enjoyed an airfreight windfall worth millions during the UPS strike, and the company hopes to come away with a few new customers for the long term, too. Bob Uttmark, staff vice president of cargo sales said revenue was up...

Debate over who books events delays construction. (arena in St. Charles County, Missouri)
August 25, 1997... Construction of a mid-size arena in St. Charles County is being delayed while the county and the project's developer work out who will have the final say on booking events at the facility. "If the arena is going to be built with public money,...

Keane keeps doctors covered. (The Keane Insurance Group Inc.)(Company Profile)
August 25, 1997... Insurance group writes $ 13 million worth of malpractice coverage Business activity: The insurance industry is usually regarded as a rather stable, traditional field, but The Keane Insurance Group Inc. has chosen to concentrate on an area that...

Talx Corp. (Proxy Report Excerpts)(Company Profile)
August 25, 1997... William W. Canfield Chairman, president and chief executive officer TALX Corp. provides interactive web and interactive voice response solutions that enable customers' employees, clients, vendors and business partners to perform self-service...